A national homebuilder builds single-family homes and condominium-style townhouses. The accompanying dataset provides information on the selling price, lot cost, and type of home for closings during one month. Develop a multiple regression model for sales price as a function of lot cost and type of home. Create a dummy variable named "Townhouse", where it is equal to 1 when Type="Townhouse" and 0 otherwise. Determine the coefficients of the regression equation. Type Sales_Price Lot_Cost Townhouse 112740 20700 Single Family 136530 25500 Townhouse 147905 24650 Single Family 170000 25200 Townhouse 181916 45025 Townhouse 187390 27000 Single Family 189120 35000 Townhouse 196898 45025 Townhouse 203076 45025 Single Family 205821 39299 Single Family 214205 36500 Townhouse 250800 73400 Single Family 255000 43198 Single Family 268000 43344 Single Family 268500 41099 Single Family 271105 45000 Single Family 277720 44650 Single Family 294990 57000 Single Family 301500 59000 Single Family 307387 45850 Single Family 312898 40768 Single Family 319602 82250 Single Family 324412 62523 Single Family 337374 70399 Single Family 337380 49150 Single Family 338065 54850 Single Family 354117 56219 Single Family 359949 50591 Single Family 432426 57422 Single Family 492820 84122 Sales Price=_________+________•Lot Cost+___________•Townhouse (Round the constant and coefficient of Townhouse to the nearest integer as needed. Round all other values to two decimal places as needed.)

A national homebuilder builds single-family homes and condominium-style townhouses. The accompanying dataset provides information on the selling price, lot cost, and type of home for closings...

A national homebuilder builds single-family homes and condominium-style townhouses. The accompanying dataset provides information on the selling price, lot cost, and type of home for closings during one month.

Develop a multiple regression model for sales price as a function of lot cost and type of home.

Create a dummy variable named "Townhouse", where it is equal to 1 when

Type="Townhouse" and 0 otherwise. Determine the coefficients of the regression equation.

Type	Sales_Price	Lot_Cost
Townhouse	112740	20700
Single Family	136530	25500
Townhouse	147905	24650
Single Family	170000	25200
Townhouse	181916	45025
Townhouse	187390	27000
Single Family	189120	35000
Townhouse	196898	45025
Townhouse	203076	45025
Single Family	205821	39299
Single Family	214205	36500
Townhouse	250800	73400
Single Family	255000	43198
Single Family	268000	43344
Single Family	268500	41099
Single Family	271105	45000
Single Family	277720	44650
Single Family	294990	57000
Single Family	301500	59000
Single Family	307387	45850
Single Family	312898	40768
Single Family	319602	82250
Single Family	324412	62523
Single Family	337374	70399
Single Family	337380	49150
Single Family	338065	54850
Single Family	354117	56219
Single Family	359949	50591
Single Family	432426	57422
Single Family	492820	84122

Sales

Price=_________+________•Lot

Cost+___________•Townhouse

(Round the constant and coefficient of Townhouse to the nearest integer as needed. Round all other values to two decimal places as needed.)

Jun 08, 2022

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A national homebuilder builds single-family homes and condominium-style townhouses. The accompanying dataset provides information on the selling price, lot cost, and type of home for closings...

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A national homebuilder builds​ single-family homes and​ condominium-style townhouses. The accompanying dataset provides information on the selling​ price, lot​ cost, and type of home for closings...

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A national homebuilder builds single-family homes and condominium-style townhouses. The accompanying dataset provides information on the selling price, lot cost, and type of home for closings...